MIRA INFORM
REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEPA S.R.L. |
|
|
|
|
Registered Office : |
Via Nicolo'
Tartaglia,34 25064 - Gussago (BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
04.12.2007 |
|
|
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|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Wholesale of Metals and Metalliferous Minerals. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
170.000 - Eur |
|
Status : |
Good |
|
Payment
Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Mepa S.r.l.
Via Nicolo' Tartaglia, 34
25064 - Gussago (BS) -IT-
Summary
|
Fiscal Code |
: |
02946570989 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
11/02/2008 |
|
Equity |
: |
200.000 Eur |
|
|
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from 1 to 5 |
Credit Analysis
|
Credit Opinion |
: |
170.000 - Eur |
Activity
Wholesale of metals and metalliferous minerals
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02946570989 |
|
Chamber of Commerce no. : 492520 of |
|
Establishment date |
: 04/12/2007 |
|
|
Start of Activities |
: 11/02/2008 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 50.000 |
Eur |
|
Subscribed Capital |
: 50.000 |
Eur |
|
Paid up Capital |
: 12.500 |
Eur |
Members
|
Beriola |
Michele |
|
|
|
Born in |
(BS) |
on 14/11/1966 |
- Fiscal Code : BRLMHL66S14B157X |
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|
|
Residence : |
Via |
Casazza |
, 37 |
- 25100 |
|
(BS) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
04/12/2007 |
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|
|
|
No Protests registered |
Companies connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held positions are
listed.
The Members of the subject firm are not reported to be Members in other
companies.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Beriola Michele |
|
BRLMHL66S14B157X |
40.200 .Eur |
80,40 |
|
Grassi Paolo |
|
GRSPLA62C19D940G |
9.800 .Eur |
19,60 |
Direct Participations
The Company under review has no participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
Via |
Nicolo' Tartaglia |
, 34 |
- 25064 |
- Gussago |
(BS) |
- IT - |
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|
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PHONE |
: 030/3730258 |
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|
|
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FAX |
: 030/3730268 |
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|
|
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Employees |
: 2 |
|
Stocks for a value of 290.000 |
Eur |
Protests
Protests checking on the subject firm has given a negative result.
Legal Procedures
None reported, standing to the latest received edition of the Official
Publications.
Immovables *
*Subject to survey.
None reported in the name of the Firm.
Financial and Economical Analysis
The company has been active for some years.
On the base of the latest 2 financial accounts, an economic-financial
analysis has been developped.
During the last years, it achieved profits (r.o.e. 43,35% on 2009)
The operating result in 2009 was positive (10,32%) and in line with the
sector's average.
An operating result of Eur. 131.385 has been registered. rising
(+48,38%) in relation to the previous year.
During the latest financial year the gross operating margin amounted to
Eur. 160.003 showing an upward trend if compared to 2008.
Indebtedness is scanty since debts are lower than liquidity.
The management generated equity capital for an amount of Eur. 176.512 ,
increasing by 194,2% if compared to the financial year 2008.
In the year 2009 total debts amounted to Eur. 1.062.198 while during the
financial year 2008 the amount was equal to Eur. 660.402.
Liquidity is good.
2009 financial year closed with a cash flow of Eur. 105.134
Subordinate employment cost is of Eur. 33.304, i.e. 0,51% on total
production costs. , whereas the incidence on sales revenues is of 0,52%.
If compared to the sales volume (-0,25%), the impact of the financial
charges is limited.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.374.599 |
|
Profit (Loss) for the period |
76.516 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.962.751 |
|
Profit (Loss) for the period |
49.996 |
Balance Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
- Balance Sheet as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x
1 |
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RATIOS |
Value Type |
as at 31/12/2009 |
as at 31/12/2008 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,08 |
0,15 |
0,10 |
|
Elasticity Ratio |
Units |
0,90 |
0,84 |
0,88 |
|
Availability of stock |
Units |
0,23 |
0,10 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,67 |
0,74 |
0,60 |
|
Quick Ratio |
Units |
0,45 |
0,11 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
2,92 |
4,25 |
|
Self Financing Ratio |
Units |
0,14 |
0,08 |
0,15 |
|
Capital protection Ratio |
Units |
0,28 |
0,00 |
0,63 |
|
Liabilities consolidation quotient |
Units |
4,02 |
1,54 |
0,10 |
|
Financing |
Units |
6,02 |
11,01 |
5,13 |
|
Permanent Indebtedness Ratio |
Units |
0,81 |
0,62 |
0,27 |
|
M/L term Debts Ratio |
Units |
0,67 |
0,54 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
1,37 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
10,36 |
4,04 |
2,27 |
|
Current ratio |
Units |
5,38 |
2,42 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
4,02 |
2,13 |
0,88 |
|
Structure's primary quotient |
Units |
1,78 |
0,53 |
1,41 |
|
Treasury's primary quotient |
Units |
2,69 |
0,33 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
721,09 |
1.241,89 |
642,31 |
|
Current Capital ( net ) |
Value |
929.591 |
369.016 |
237.601 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
1,65 |
0,80 |
2,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
43,35 |
83,33 |
9,18 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
65,50 |
128,26 |
24,88 |
|
Return on Investment ( R.O.I. ) |
% |
10,32 |
11,88 |
5,29 |
|
Return/ Sales |
% |
2,06 |
1,11 |
3,80 |
|
Extra Management revenues/charges incid. |
% |
58,24 |
56,46 |
29,89 |
|
Cash Flow |
Value |
105.134 |
63.880 |
72.037 |
|
Operating Profit |
Value |
131.385 |
88.546 |
111.392 |
|
Gross Operating Margin |
Value |
160.003 |
102.430 |
157.181 |
|
MANAGEMENT |
|
|
|
|
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Credits to clients average term |
Days |
n.c. |
n.c. |
122,43 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
140,58 |
|
Average stock waiting period |
Days |
16,25 |
3,44 |
50,79 |
|
Rate of capital employed return ( Turnover ) |
Units |
5,01 |
10,69 |
1,45 |
|
Rate of stock return |
Units |
22,16 |
104,78 |
7,00 |
|
Labour cost incidence |
% |
0,52 |
0,36 |
7,00 |
|
Net financial revenues/ charges incidence |
% |
- 0,25 |
- 0,15 |
- 0,99 |
|
Labour cost on purchasing expenses |
% |
0,51 |
0,36 |
7,12 |
|
Short-term financing charges |
% |
1,65 |
2,07 |
2,32 |
|
Capital on hand |
% |
19,97 |
9,36 |
68,54 |
|
Sales pro employee |
Value |
3.187.299 |
7.962.751 |
481.724 |
|
Labour cost pro employee |
Value |
16.652 |
28.271 |
33.060 |
Credit Opinion
On the basis of the above mentioned, and the sales volume obtained, we deem
that the maximum exposure for short and medium term transactions ( 90 - 120
days ) could be of:
170.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
1.169.259 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 6.137 significant companies.
The companies cash their credits on an average of 122 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 2,35%.
The labour cost affects the turnover in the measure of 7,00%.
Goods are held in stock in a range of 50 dd.
The difference between the sales volume and the resources used to
realize it is about 1,45.
The employees costs represent the 7,12% of the production costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 5.551.
The insolvency index for the region is 0,55, , while for the province it
is 0,48.
Total Bankrupt companies in the province : 3.452.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Company |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.